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Ciena Corp Set to Possibly Rebound After Yesterday's Selloff of 3.24%

By James Quinn

Ciena Corp (NYSE:CIEN) traded in a range yesterday that spanned from a low of $40.16 to a high of $40.74. Yesterday, the shares fell 3.2%, which took the trading range below the 3-day low of $40.84 on volume of 1.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is tracking the current trend status for Ciena Corp and will alert subscribers who have CIEN in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, Ciena Corp share prices have been bracketed by a low of $25.71 and a high of $46.78 and are now at $40.38, 57% above that low price. The 200-day and 50-day moving averages have moved 0.49% higher and 1.06% higher over the past week, respectively.

Keywords: rebounders ciena corp

Ticker(s): CIEN